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Greeks Withdrew €4.9 bn from Bank Deposits in May

The withdrawal of bank deposits continued unabated in May and according to reports, households and enterprises got 4.9 billion euro from their private or business accounts. The reasons are multiple: Partly is the panic about the Greek economy as in May the 5th loan-tranche was very much hanging on an uncertain rope. The increased needs of private households as they face wages and pensions cuts. Tax paying needs.

According to daily Proto Thema, this new withdrawal wave “brings the total losses suffered by banks since the beginning of the year to 17.8 billion euros. This development makes it difficult to decouple the Greek banks from the liquidity offered by the European Central Bank.  Greek banks’ debt rose in May to 97.5 billion euros from 86.8 billion euros in April.”

Mice Eat  Euro Banknotes worth 40,000

A man in Crete was shocked to see his  savings have been eaten by mice. Panicked by the rumors about a Greek default, the man had withdrawn all his savings from the bank. He dug a hole in a house wall and deposited 45,000 euro inside. He covered  the hole so that nobody could see there is his hidden safe. However some four legged ‘thieves’ smelled the paper bank notes and invited their friends to a big  €uro party. When the man opened his wall-safe he found tiny paper left overs. He took the rest to the bank to find out that only bank notes worth 5,000 euro were intact.

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3 comments

  1. So ultimately, we need to choose…. which mice are better off eating our money; the banks or the four-legged kind?

    • keeptalkinggreece

      hahaha, Ididn’t thought we were on dillema: mice or rats ?

      • Unfortunately that is the worry of most of us taxpaying public – which is now the bigger evil, who can we trust with our hard-earned savings? Maybe it is easier to set mice traps at home… not so easy in the bank… Dilemma is whether at home the mice will be the only threat.. decisions… decisions…. Doesn’t affect me directly as I don’t have any savings left….